• Swindon & Wiltshire Economy
• Tuesday August 18 2026

AI has created new jobs, say South West businesses

AI is helping South West firms create new jobs and build the skills needed to stay competitive, according to research from the Lloyds Business Barometer.

Forty-eight per cent of South West businesses already using AI say it has created new jobs in their firm, while 46 per cent of all firms in the region plan to increase investment in AI to up-skill their workforce in the coming year, according to the report.

Of those increasing investment, 33 per cent expect to spend between £25,000 and £100,000, while 26 per cent expect to spend between £100,000 and £250,000.

While 41 per cent of South West businesses say their workforce has the AI skills needed, 37 per cent say it does not.

Overall, 46 per cent of the region’s firms say they currently use AI.

Meanwhile, 47 per cent of South West firms say that businesses which fail to adopt AI in the next three years will be at a competitive disadvantage, suggesting AI is increasingly viewed as a competitive necessity.

And businesses in the region using AI cited cost (26 per cent), access to skills (22 per cent) and not having enough internal expertise (12 per cent) as the main challenges to getting greater value from AI.

Amanda Dorel, regional director for the South West at Lloyds, said: “AI is already starting to reshape the way South West businesses work, with almost half of firms using it saying it has helped create new jobs.

“What’s clear is that businesses increasingly see AI as an investment in their people, as well as technology. Many are looking to build the skills they need to make the most of AI.

“Cost and access to skills remain real barriers for some firms, so it will be important that businesses get the right support as they adopt new tools and up-skill their teams.

“We’ll continue to work with South West businesses as they invest in the capabilities they need for future growth.”